Key Data

• Trading Name: kevin.
• Legal Entity: 
• Activities: Fintech Company 
• Location: Lithuania
• Regulations: regulated by the Bank of Lithuania
• Key People: Pavel Sokolovas and Tadas Tamosiunas
• Latest news: kevin.
• Latest update: July 16, 2024

kevin. is a Lithuanian fintech company regulated by the Bank of Lithuania as a payment institution. The head office is located in Vilnius and was founded in 2017 by Pavel Sokolovas and Tadas Tamosiunas.

Offering

Kevin specializes in providing payment solutions designed to streamline financial transactions for both merchants and consumers. Key offerings include:

1. Payment Gateway Solutions: Facilitates secure and efficient online and in-store payment processing.
2. Open Banking Services: Leverages APIs to enable direct bank payments and access to financial data, promoting smoother transactions and better financial management.
3. Merchant Tools: Offers a suite of services tailored to improve transaction handling, customer experience, and financial reporting for merchants.

Regulation

Regulatory Compliance Challenges

Kevin, a Lithuanian fintech company, has faced regulatory scrutiny from the Bank of Lithuania. Key issues include:

• Failure to Submit Audited Accounts: Kevin did not provide necessary financial statements, leading to transparency concerns.
• Capital Adequacy Requirements: The company did not meet the mandated financial stability norms.
• Internal Control Deficiencies: Issues in internal management raised operational integrity concerns.

Regulatory Actions:

• Supervision: The Bank of Lithuania has appointed Valnetas as an independent supervisor to oversee Kevin’s compliance and operations.
• Customer Onboarding Halt: The company has been temporarily restricted from onboarding new customers until compliance is ensured.

Customer Review

Trustpilot: 2,9 Stars with 10+ Reviews

Conclusion and Rating

Kevin is currently facing significant regulatory challenges. The Bank of Lithuania has suspended its ability to onboard new customers due to serious compliance issues, including the failure to submit audited financial statements, meet capital adequacy requirements, and ensure proper internal controls.

Rating: Orange

• Compliance: Orange (Significant regulatory concerns)
• Merchant Services: Orange (Mixed customer reviews)

Given the regulatory actions and customer feedback, Kevin is under close scrutiny and needs to address these issues promptly to restore confidence and ensure operational integrity.